core sector communique

Interactive Session with Ms. Diana Mickeviciene, Minister Counsellor, Republic of Lithuania, September 06, 2012, at MCC Chamber of Commerce & Industry

            To enhance bilateral trade between India and Lithuania which was at US$ 208.75 mn in 2010-11, Ms. Diana Mickeviciene, Minister Counsellor, Lithuania invited Indian firms to trade in machinery and equipment, textile, food industry, medical devices, chemical products and plastics. Also collaboration has been invited in the field of research in science & technology and education.

She said that well educated skilled manpower, excellent logistic support, developed infrastructure and strategic location made Lithuania a most favoured destination for international investors. Indian companies can use Lithuania as the main trading point for Indian goods in the Baltic region through Klaipeda port. Lithuania government has set up a number of Free Economic Zones, Industrial Parks and will provide substantial fiscal and financial support to Indian investors. Since Lithuania is a world leader in Laser Technology Indian companies can collaborate with them. It provides world class educational institutions in technical and medical fields at a cheaper cost.

            As Lithuania and West Bengal both share commonalities like a booming construction sector, she mentioned that both the countries can well engage in the development of real estate sector. Further, she invited collaborative work with West Bengal in ’Infrastructure’, ’Waste Management’ and ‘Traffic Regulation’ which are lacking in the state.

            Shri Deepak Jalan, President, MCCI in his welcome address focused on the need of sorting out the trade priorities between the two countries. He added that Indian firms has investment opportunities in Lithuania, a logistics hub, in areas like real estate market, laser & optic industry, air transportation, information technologies, textile and pharmaceutical industry. Two major Indian companies Indorama - invested Euro 100 Million in Pet Granules production and IDEAL INVENT –specialised in IT, established a scientific R&D development cenre in Lithuania